The Lovelady Mortgage Team

03/15/2025

03/25/2021

If you havn't refinanced your home mortgage yet, perhaps now is the time to lock in a historically low rate.

Please contact me to discuss your options.

Mortgage rates moved lower at a decent pace today for the 2nd day in a row. The average lender is still offering the same "note rate" compared to yesterday, but the costs associated with that rate are lower. In other words, "effective rates" (a synthetic rate...

03/14/2021

Buy a home now before the South Florida housing market gets too expensive again.

Homeowners' housing wealth grew by record numbers in the fourth quarter of last year . CoreLogic, in its Home Equity Report for the period, says the average equity in a U.S. home increased 16.2 percent since the fourth quarter of 2019, the greatest increase...

03/12/2021

According to recent report (below), getting a mortgage has become a little more difficult. So it's more important than ever to work with a mortgage professional who will get the job done quickly and easily. If you know anyone who is looking to buy, sell, or refinance a home please send them to me.

Getting a Mortgage Isn't Getting Any Easier

11 2021, 9:06AM

Access to mortgage credit remained unchanged in February after making modest gains over the previous four months. The Mortgage Bankers Association said its Mortgage Credit Access Index, was remained at the January level of 124.6. A lower score indicates a tightening of mortgage credit standards. The index was benchmarked to 100 in March 2012.

The MCAI had dropped from 181.3 in February 2020 down to 118.6 by September as the financial impacts of the pandemic became apparent and mortgage delinquencies rose. The index became to increase in October although the recovery has been both slow and uneven.

The Conventional MCAI decreased 0.3 percent, and the Government MCAI rose by 0.3 percent in February. Of the component indices of the Conventional MCAI, the Jumbo MCAI was up 0.2 percent, and the Conforming MCAI fell by 0.7 percent.

"Credit availability in February was unchanged from January, remaining close to its lowest level since 2014," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "The housing market is in strong shape heading into the spring, with robust growth in purchase applications, home sales, and new residential construction. Government credit supply has increased in five of the past six months, albeit in small increments, but remains tight by historical standards. This adds another obstacle for many aspiring first-time buyers who are already navigating supply and affordability constraints."

Added Kan, "Expected home sales growth this year is still likely to be driven by first-time buyers, spurred by millennials reaching peak first-time homebuyer age. Many of these potential buyers will likely utilize FHA and other low down payment loans to purchase a home."

11/12/2020

I'm glad I was able to help another happy homeowner refinance into a lower interest rate, and save $1000s per year.
Can I help you, or someone you know to do the same?
Let me know!!

11/11/2020

Paul was always readily available to answer my questions.

Click to see all 5 reviews of Paul Lovelady, Loan Officer Sales Manager (NMLS #1544617)

10/24/2020

The service provided by Paul, was extremely good and informative,
he took great care in explaining all the different aspects of the transaction.
Thank You

Click to see all 4 reviews of Paul Lovelady, Loan Officer Sales Manager (NMLS #1544617)

10/14/2020

We had a great experience with Paul, he’s not only very attentive but also very knowledgeable and professional.
We highly recommend him!

Click to see all 3 reviews of Paul Lovelady, Loan Officer Sales Manager (NMLS #1544617)